Ministry of Commerce & Industry
Minister of State for Commerce and Industry, Smt. Anupriya Patel calls for addressing WTO Reforms
Minister inaugurates the 2nd Trade and Investment Working Group Meeting in Bengaluru.
India recognises the significance of trade and its pivotal role in driving economic growth, says Minister of State for Commerce and Industry Shri Som Parkash.
Minister of State for Commerce and Industry, Smt. Anupriya Patel has said that the priorities pursued by G20 under India's Presidency for Trade and Invest Working Group are a mix of continuity from the previous Presidencies and these reflect upon the additional challenges which need global attention.
Delivering the keynote address at the second day event of the 2nd TIWG Meeting in Bengaluru today, the Minister stressed the need for addressing the World Trade Organisation reforms on top priority basis. WTO assumes a vital role in ensuring fairness and transparency in global trade and forms the backbone of multilateral trading system, Smt. Patel added.
Speaking on the occasion, the Minister of State for Commerce and Industry, Shri Som Parkash remarked that India, as a vibrant and dynamic nation, has long recognised the significance of trade and its pivotal role in driving economic growth. "We have witnessed a remarkable transformation through embracing open markets and global integration. This has also been driven by a robust entrepreneurial spirit and steadfast government support", Shri Som Parkash said.
The Minister noted that in recent years, India has made significant progress in facilitating ease of doing business. Extensive reforms have streamlined processes, reduced bureaucratic hurdles, and enhanced transparency. India offers immense opportunities across various sectors, including manufacturing, infrastructure, and technology. We are dedicated to creating an investor-friendly landscape by providing a stable policy framework, protecting intellectual property rights, and ensuring the availability of skilled talent, the Minister added.
In his opening remarks, Shri Sunil Barthwal, Secretary, Department of Commerce shared the view that WTO has effectively played the role of a functional rule making and enforcing body for the international trading community, and therefore, the process of its reformation necessitates inclusive efforts aimed at bolstering the multilateral trading system.
Later, the G20 Delegates along with the Ministers visited the Experience Zone set up by the Coffee Board of India, and an Exhibition Zone set up by DPIIT. The Experience Zone showcases GI Tag coffee from Karnataka and other parts of the country along with a variety of tea, spices and millets. The Exhibition Zone highlightes Bengaluru’s fast-growing innovation and entrepreneurship ecosystem. Xovian Aerospace Private Limited, Vyomastra Technologies LLP, Robotguru Education Technologies Private Limited and Anscer Robotics are the four Bengaluru-based startups exhibiting today and tomorrow.
Nearly 75 delegates from G20 member countries, invitee countries, regional groupings and international organizations are engaged in deliberations in the three-day event to accelerate global trade and investment.
The aim, under India’s G20 Presidency, is to build a shared understanding of the challenges faced in accelerating global trade and investment, and leveraging existing opportunities to make growth inclusive and transparent and build global synergies that lead the world towards finding common solutions for a resilient and sustainable One Earth, One Family, One Future.